Schneider Electric to acquire PTC for $22.6bn

What happened

French conglomerate Schneider Electric is to acquire (one company buying another) US engineering software provider PTC at an equity value of around $22.6bn. PTC shareholders will receive $205 per share in cash, representing a 42.3pc premium to PTC’s last closing price, according to Schneider, and an implied enterprise value of $23.7bn.

“As industrial AI moves beyond digital applications and is increasingly embedded in physical products and machines, processes and energy systems, new opportunities are emerging across the lifecycle,” Schneider said. The acquisition of PTC, according to Schneider, aims to create a “leading, scaled, open and interoperable industrial software and AI franchise” by “driving business outcomes for customers from any system of design, control, data and intelligence”, and bridging the “physical and digital worlds across the lifecycle”. The energy services giant said conclusion of the transaction is expected by Q3 2027, subject to customary closing conditions.